Rockland Capital Closes Rockland Power Partners III at $454 Million
HOUSTON, TX – April 17, 2018 – Rockland Capital, LLC (“Rockland”) a private equity firm focused on the acquisition and optimization of North American power projects, today announced that it has successfully closed the firm’s latest institutional fund, Rockland Power Partners III, LP with $454 million in commitments exceeding the firm’s initially targeted size.
The fund received strong support from Rockland’s existing investors with 80% of the capital coming from prior investors. “We were very pleased with the level of interest from our investors in prior funds and for the addition of some new investors who broaden the base of support,” said Scott Harlan, Managing Partner of Rockland Capital. “We have a great relationship with our LPs which we have cultivated through a practice of transparency and a consistent investment approach. Our disciplined and opportunistic approach to investing in under-managed North American power projects and our success in removing inefficiencies and optimizing asset performance has allowed us to consistently create value.”
Rockland acquired a portfolio of six natural gas-fired peaking power plants from AES on March 27, just prior to the final closing of the fund. “The closing of the Ohio peaker portfolio is an indication of the strength of the opportunity set,” said Harlan. “We have already invested 40% of this third fund and we have a strong pipeline of attractive opportunities.”
About Rockland Capital
Rockland Capital, a private equity firm founded in 2003, is focused on the acquisition, optimization and development of companies and projects in the North American power sector. The firm manages Rockland Power Partners, Rockland Power Partners II and Rockland Power Partners III and is located in Houston, Texas.